Energy Transfer - ET Stock Forecast, Price & News

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania. It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls. The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product. It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.

Analysts Set New Price Targets

Several brokerages have weighed in on ET. Barclays cut their target price on Energy Transfer from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 20th. Morgan Stanley lifted their price target on Energy Transfer from $12.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, April 26th. Finally, US Capital Advisors reiterated a "buy" rating on shares of Energy Transfer in a research report on Wednesday, June 1st. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of "Buy" and an average target price of $14.25.

Energy Transfer Price Performance

Shares of NYSE:ET traded down $0.20 during mid-day trading on Monday, reaching $11.47. The company had a trading volume of 375,571 shares, compared to its average volume of 22,084,475. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 1.39. The stock has a market cap of $35.41 billion, a PE ratio of 9.34 and a beta of 1.90. The company has a 50-day moving average price of $10.60 and a two-hundred day moving average price of $10.71. Energy Transfer has a 1-year low of $7.96 and a 1-year high of $12.48.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.20. The ex-dividend date is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.02%. Energy Transfer's payout ratio is currently 73.60%.

Insider Activity

In other news, Director Richard D. Brannon acquired 26,027 shares of Energy Transfer stock in a transaction that occurred on Thursday, July 14th. The stock was purchased at an average price of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now owns 388,347 shares in the company, valued at $3,677,646.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Richard D. Brannon purchased 26,027 shares of Energy Transfer stock in a transaction on Thursday, July 14th. The stock was bought at an average price of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now directly owns 388,347 shares of the company's stock, valued at $3,677,646.09. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Kelcy L. Warren purchased 1,591,092 shares of Energy Transfer stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $10.94 per share, with a total value of $17,406,546.48. Following the transaction, the chairman now directly owns 49,578,477 shares of the company's stock, valued at $542,388,538.38. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by corporate insiders.